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Riot Platforms Reports Reduced Stake in Bitfarms to 9.85%
In a recent announcement, Riot Platforms has revealed a significant reduction in its stake in Bitfarms Ltd., with the company’s ownership now standing at 9.85%. This decision comes after the sale of over 2.4 million shares of Bitfarms, which translates to approximately 0.44% of the company’s total issued and outstanding shares.
Prior to this transaction, Riot Platforms held a substantial portion of Bitfarms’ common shares, amounting to roughly 10.29%. However, the sale has led to a decrease in its holdings to 54,745,063 shares, corresponding to a new ownership stake of 9.85%.
According to the announcement, Riot’s decision to adjust its investment in Bitfarms was influenced by various factors, including market conditions, discussions with Bitfarms’ management, and other potential investment opportunities. The company has emphasized that this sale does not constitute an offer to buy or sell any securities of Bitfarms.
Riot Platforms’ strategic move is indicative of the dynamic nature of the cryptocurrency and digital infrastructure sectors. The decision aligns with its broader strategy of optimizing its portfolio in response to market conditions and investment opportunities.
The firm’s vision revolves around becoming a leading Bitcoin-driven infrastructure platform, making a positive impact on various sectors and communities through innovation and strategic partnerships.
Source: Blockchain.News
